Trump set to announce trade sanctions on China

The Trump administration plans to announce sanctions against China on Thursday after determining that the country is encouraging the theft and transfer of intellectual property from US businesses. Trump is targeting more than 100 different types of Chinese goods, sources claim. The White House is reported by US media to be considering between $30bn-$60bn in tariffs as well as measures that would restrict investment. It will be Trump’s first trade action directly aimed at China, which he has blamed for the hollowing out of the American manufacturing sector and the loss of US jobs. The decision comes as policymakers including IMF Managing Director Christine Lagarde warn of a global trade conflict that could undermine the broadest world recovery in years.